EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Valeant Pharmaceuticals Internationa...
November 20 2015 - 5:43PM
Rosen Law Firm, a global investor rights law firm, announces the
filing of a class action lawsuit on behalf of purchasers of Valeant
Pharmaceuticals International, Inc. (NYSE:VRX) securities from
February 28, 2014 through October 21, 2015, both dates inclusive
(the “Class Period”). The lawsuit seeks to recover damages for
Valeant investors under the federal securities laws.
To join the Valeant class action, go to the firm’s
website at http://rosenlegal.com/cases-757.html or call Phillip
Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for
information on the class action. The lawsuit is pending in U.S.
District Court for the District of New Jersey.NO CLASS HAS YET BEEN
CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE
NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO
REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY
RETAIN COUNSEL OF YOUR CHOICE.According to the lawsuit, throughout
the Class Period, Defendants issued materially false and misleading
statements to investors and/or failed to disclose that: (1) Valeant
had deficient internal controls, (2) Valeant had a relationship
with a network of specialty pharmacies used to boost Valeant’s
sales of its high-priced drugs; (3) the use of specialty pharmacies
left Valeant vulnerable to increased regulatory risks, (4)
Defendants were under government scrutiny for its financial
assistance programs for patients, pricing decisions and the
distribution of its products, (5) Valeant faced the risk of
scrutiny over its price increases, (6) without using specialty
pharmacies, Valeant’s financial performance would be negatively
impacted, (7) without using specialty pharmacies, Valeant’s Class
Period performance would have been negatively impacted, (8)
Valeant’s true relationship with Philidor and the extent of that
relationship, (9) Valeant controlled Philidor, (10) Valeant’s
subsidiary KGA had a secured lien interest on Philidor’s ownership,
(11) Defendants were engaged in a scheme to manipulate Valeant’s
stock price, and (12) as a result, Valeant’s public statements were
materially false and misleading and/or lacked a reasonable basis at
all relevant times. When the true details entered the market, the
lawsuit claims that investors suffered damages.A class action
lawsuit has already been filed. If you wish to serve as lead
plaintiff, you must move the Court no later than December 21, 2015.
A lead plaintiff is a representative party acting on behalf of
other class members in directing the litigation. If you wish to
join the litigation, go to the firm’s website at
http://rosenlegal.com/cases-757.html or to discuss your rights or
interests regarding this class action, please contact Phillip Kim,
Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at
866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout
the globe, concentrating its practice in securities class actions
and shareholder derivative litigation.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
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